TRANSPACIFIC CARRIERS ISSUE RATE INCREASE GUIDELINES FOR 2000
The 12 member lines of the Westbound Transpacific Stabilization Agreement have agreed a set of rate adjustment guidelines for the U.S. export market to Asia.
The timing of the increases recommended is staggered from December 1999 to July, according to commodity. Items like hay and wastepaper attract small increases of $100 per 40-foot twice, while most other adjustments happen only once.
The maximum single increase recommended, applying to many temperature controlled products, is $400 per 40-foot.
The carriers said that westbound rates remain 40 percent below 1997 levels and lower even than in 1990.
U.S. container exports to Asia have begun to show a strong rebound following a period of heavy imbalance with booming exports from Asia, they said.
The WTSA is a discussion agreement and only issues guidelines. Actual tariff and contract rates will be negotiated by each line individually with its customers, they said.
The WTSA lines are APL, COSCO Container Lines, Evergreen, Hanjin Shipping, Hyundai Merchant Marine, “K” Line, Maersk Sealand, Mitsui O.S.K. Lines, P&O Nedlloyd, Nippon Yusen Kaisha, Orient Overseas Container Line and Yangming Marine Transport.